- Mobile gaming group Gaming Realms slashed losses in the first half of the year following a jump in revenue, led by its licensing business.

For the six months to 30 June 2020, pre-tax losses narrowed to £692K from £2.47m on-year as revenue rose 66% to £5.2m.

Licensing revenue grew 104% to £3.4m owing to an 'increase in distribution and an expanded games portfolio,' the company said.

The rise in revenues and high margins resulted in adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) growing from £(0.1)m to £1.24m.

The company 'expects trading for FY20 to be in line with market expectations,' Gaming Realms said.

At 8:37am: [LON:GMR] Gaming Realms Plc share price was +1.3p at 23.1p

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